ENVIRONMENTAL FISCAL REFORM ILLUSTRATIVE POTENTIAL IN PORTUGAL

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1 EEA EEA Staff Psitin Nte (April 2013) SPN13/01 ENVIRONMENTAL FISCAL REFORM ILLUSTRATIVE POTENTIAL IN PORTUGAL Prepared fr the cnference Green taxatin: a cntributin t sustainability Lisbn, April 30 th 2013 hsted by Ministry f Fiscal Affairs and Ministry f Envirnment By Mikael Sku Andersen, Stefan Speck and David Gee Eurpean Envirnment Agency

2 EUROPEAN ENVIRONMENT AGENCY Integrated Envirnmental Assessment Prgramme Envirnmental Fiscal Refrm Illustrative Ptential in Prtugal Prepared by Mikael Sku Andersen, Stefan Speck and David Gee April 2013 DISCLAIMER: Any views expressed herein are thse f the authrs and shuld nt be attributed t the Eurpean Unin nr t EEA, its Executive r its Management Bard It is a draft, and identificatin f gaps and inaccuracies are welcme. Send yur cmments and crrectins t Keywrds: Envirnment, Taxatin, Budget, Prtugal, Eur 2

3 Envirnmental fiscal refrm: illustrative ptential in Prtugal based n established practices acrss Eurpe Intrductin Mre lng term structural changes in the fiscal system may help create an imprved basis fr ecnmic activities and ecnmic grwth, as it has been pinted ut many times, fr instance in the EU s Cuncil f Ministers (2012); Shifting taxatin away frm labur t bst emplyment and ecnmic grwth had already been emphasised in the Annual Grwth Survey f 2011 and in the Eurpean Cuncil cnclusins f March 2011, and is als included in the Annual Grwth Survey fr Green tax refrms, which cnsist in increasing the share f envirnmentally related taxes, while reducing thers, have a rle t play in this cntext. Envirnmental taxatin and the remval f envirnmentally harmful subsidies shuld be integral parts f the Eurpean Semester and may cntribute t a wider fiscal cnslidatin prcess in Member States whilst facilitating the restructuring twards a resurce efficient and lw carbn ecnmy Prtugal is ne f several Member States that has reached a high level f public debt in relatin t GDP and which is struggling t meet the lng term cnvergence criteria, as well as the mre shrtterm perfrmance gals that have been agreed. In this cntext it has already been emphasised hw a revenue neutral adjustment f the tax burden can help imprve the ecnmy (2011 Memrandum f Understanding between the Gvernment f Prtugal and the Trika 1 ). Prtugal experienced high ecnmic grwth rates in the 1990 s, where Prtugal began t benefit frm access t the Eurpean market and the dynamics f Eurpean integratin. Hwever, the wrld market il price increases arund year 2000 plaid a rle in triggering the slwing f Prtugal s ecnmy in the first years f the past decade, and even befre the present crisis when Prtugal s ecnmic grwth fell belw average in the Eurpean Unin. Als the current fiscal crisis is linked, althugh in a mre cmplex way, with a peak in wrld market energy prices that via inflatin fears and interest rate adjustments cntributed t a cllapse f bad husing lans and dubius lending practices glbally. Hence the transitin in Prtugal s energy supply, with renewables nw accunting fr ver half the electricity supply, is prmising. High resurce and energy csts are a drain fr Eurpe s ecnmies, because Eurpe depends t a large extent n imprts frm utside (EEA, 2010). On this backgrund the Eurpean Unin s Eurpean Central Bank, Eurpean Cmmissin and Internatinal Mnetary Fund (IMF). 3

4 strategy fr imprving Eurpe s cmpetitiveness emphasises imprved resurce efficiency as ne f its key thematic targets. Impacts f envirnment related taxatin shuld nt be equated with impacts f high energy and resurce prices. Whereas high energy prices benefit mainly the il and gas suppliers abrad, in the case f taxatin, revenues remain in the natinal ecnmy. Revenues frm taxatin f energy and ther envirnmentally related items can be used t undertake a tax shift, whereby labur taxatin can be relieved. In this way a tax shift can supprt a lwering f labur csts as required fr strengthening the traded gds sectr and fr imprving the verall perfrmance f the ecnmy. In particular when lwering emplyers scial cntributins the tax shifting may benefit directly cmpetitiveness. Lwering f incme taxes fr salary earners is als useful t cmpensate fr higher envirnmentally related taxes. Prtugal s tax bases With a tax t GDP rati f 31.5% Prtugal was by 2010 in terms f the verall tax pressure ranking 20 th in EU27, fllwing Spain and Pland, while fllwed by Greece and Ireland. The tax structure is ranked 13 th fr the cntributin f indirect tax revenues (such as envirnmentally related taxes) t ttal tax revenues, while 16 th fr direct tax revenues. Scial security cntributins are as well relatively mid range, ranking 18 th in the EU in 2010, and with a ntable rle fr emplyers being maintained. With regard t crprate taxes, a sub categry f direct taxatin, Prtugal is ranked 7 th in the EU. Cnsumptin related taxes make up fr 11.7 % f GDP, with Prtugal ranking 14 th in the Eurpean Unin. The implicit taxatin f labur is in line with the verall tax burden and Prtugal ranks accrding t Eurstat 19 th, with such taxes (incl. scial cntributins) amunting in 2010 t 41 per cent f ttal taxatin. Accrding t Eurstat definitins the envirnmentally related taxes include energy taxes, transprt taxes, pllutin taxes and resurce taxes. Prtugal was in the mid 1990 s leading in Eurpe with regard t envirnmentally related taxes (EEA, 1996). In 1995 the envirnmentally related taxes made up 11.5% f ttal tax revenues. Prtugal was in this respect number ne in EU15, while it ranked 4 th when cnsidering the relatinship t GDP f envirnmentally related taxes. Inflatin has gradually erded the envirnmentally related tax bases in Prtugal, as adjustments required t maintain revenues have nt been intrduced. Over the past 15 years Prtugal has seen ne f the largest declines in envirnmentally related taxes in Eurpe, nly exceeded by Italy. In real effective terms (adjusted fr inflatin and currency depreciatins) revenues are 5% lwer than in 1995, but when cnsidering their relatinship t GDP these taxes have declined in fact by 1/3. 4

5 Prtugal in 2010 was cnsequently ranked 14 th in EU27 when it cmes t envirnmentally related taxes in relatin t GDP. The rati in 2010 was 2.5% relative t GDP and 7.9% f ttal taxatin (including scial security cntributins). In the 2011 Memrandum f Understanding (MU) it was agreed t intrduce legislatin t ensure indexatin f all excise taxes, including thse related t energy, with cre inflatin. Vehicle related taxes might still be in need f indexatin. What is envirnmental fiscal refrm? Envirnmental fiscal refrm (EFR) invlves plicy measures that shift revenue raising instruments frm labur and capital t resurce use and pllutin. In additin t envirnmentally related taxes, envirnmental fiscal refrm may als invlve intrducing full cst pricing (with user charges fr water supply, waste dispsal and sewage), auctined permits in emissins trading schemes and the phasing ut f envirnmentally harmful subsidies. Envirnmental fiscal refrm has in thse cuntries which implemented such tax plicies in the past (fr example Estnia, Sweden, Denmark, Finland, Netherlands, Slvenia, Germany and UK) ften been designed t be fully r partially revenue neutral, thus aiming t relieve the pressure n labur as a tax base. Envirnmental fiscal refrm can deliver five dividends: (1) increased resurce prductivity and ec innvatin; (2) increased emplyment; (3) imprved health f envirnments and peple; (4) a mre efficient tax system; (5) sharing the financial burdens f an ageing ppulatin als accrding t cnsumptin These dividends have been described and analysed cmprehensively in reprts frm EEA and ther internatinal institutins. Between 1996 and 2006 the Eurpean Envirnment Agency (EEA) published fur reprts (EEA, 1996, 2000, 2005 and 2006) n market based instruments and the ptential fr envirnmentally related taxatin in the EU. Mre recently EEA has published tw technical reprts addressing the impacts f Envirnmental Tax Refrm (ETR) n ec innvatin, n equity, and n the feasibility f refrm (EEA, 2011a; EEA, 2011b). Other bdies such as the OECD (OECD, 2001, 2006 and 2010) and Green Budget Eurpe, plus a wide range f EU and natinal research activities (fr example Sares, 2003, Clinch and Dunne, 2006, Wissema and Dellink, 2007, Cnvery et al., 2007, Andersen and Ekins, 2009, Green Fiscal Cmmissin, 2010, and Ekins and Speck, 2011) have fcused n answering questins arund the purpse, validity and effectiveness f many ETR instruments. 5

6 Whilst this cnsiderable research int the multiple benefits f ETR has helped t stimulate refrms in sme member states, it is nw recgnised that the main barriers are largely institutinal, requiring cmmn understanding between many stakehlders and appreciatin f the different natinal cntexts within which EFR and ETR can wrk. An imprtant aspect when cnsidering the intrductin f envirnmentally related taxes and charges is that when they are effective, the base n which they are charged will shrink. Having sme understanding f the relatinship between the increase in a tax and its envirnmental impact is necessary t make credible estimates f revenue. Hwever, envirnmentally related taxes and charges can imprve energy, water and ther resurce efficiencies as well as spur innvatin (OECD, 2010). Experience als shws that as resurce efficiencies imprve sme f the gains in incme that then arise are spent n mre cnsumptin, e.g. driving further in mre fuel efficient cars, s that the ttal cnsumptin f energy and resurces can increase fllwing imprvements in ec efficiency. This is the rebund effect ; see fr example: Srrell, 2007, Plimeni et al, 2008, and Barker et al., Bth a shrinking envirnmental tax base and the rebund effect can be ffset by gradually raising the tax in line with the ec efficiency gains. Such gradual envirnmental tax increases are justified by the increasing knwledge abut the real harm (as with air pllutin fr instance) and by cntinuing resurce depletin and scarcities. Climate change, bidiversity lss, ecsystem degradatin, the human health impacts f chemical pllutin, grwing material resurce scarcity, cncerns abut fd, energy and water security, as well as natinal budget deficits and an increasingly ageing ppulatin are current challenges facing the Eurpean Unin. At the same time, there is increased understanding f the inter linkages between many envirnmental, ecnmic and scial prblems, pinting t the cst effectiveness f integrated packages f plicy measures (EEA, 2010). A plicy that shifts part f the tax base t envirnmentally damaging cnsumptin activities can be a vital part f an verall plicy package that aims t tackle these multiple challenges, as recmmended in Eurpe 2020, the EU s grwth strategy fr the cming decade. Accrding t the Eurpean Cmmissin (2012) The best jb related utcmes fr green tax revenues are btained as a result f lwering taxes and scial security cntributins paid by emplyers and/r emplyees. Experiences gained in several EU member states, which have implemented envirnmentally related taxatin under tax refrms in the 1990s and early 2000s, shw bradly psitive results. Envirnmental Fiscal Refrm extends the tax refrm idea t include the reductin f envirnmentally harmful subsidies, s as t free up scarce financial resurces fr mre efficient use elsewhere. Anther cnsideratin when discussing the ratinale f an EFR is that the burden f much existing envirnmental pllutin and degradatin ften falls mre nt the prer parts f a ppulatin, wh als frequently have less access t green envirnments. Therefre, the expected envirnmental imprvements frm envirnmental taxes, as well as the effect f reducing labur taxes (perhaps targeted n the yung r unskilled wrkers) as part f an EFR, can help redress the 6

7 greater impacts f sme envirnmental taxes n prer husehlds, such as taxes n dmestic energy (see EEA, 2011a). Sme features f envirnmentally related taxatin and tax expenditures in Prtugal It is energy taxes that make up fr the greater part f envirnmentally related taxes in Prtugal abut 3200 millin whereas taxes related t transprt accunt fr 1200 millin. Accrding t Eurstat the revenues related t pllutin and resurces in 2010 accunt fr merely 1 (ne) millin eur. Natinal figures indicate additinal revenues f 48 millin eur frm ring fenced waste taxes and water service taxes nt cunted by Eurstat. The base fr transprt taxes (vehicle acquisitin tax and annual mtr tax) has been shifted twards greater emphasis n an annual tax. The annual tax cnstitutes 30% f transprt revenues. The acquisitin tax targets specifically CO2 emissins. Prtugal s level f taxatin fr mtr vehicles is in average abut 250 per vehicle per year, abut half the level in EU15 (ERF, 2011). In the MU Prtugal has cmmitted itself t raise vehicle sales taxes and did s with a 7.5% increase in 2012 (ENDS Daily ). Cmpany cars are widespread in Prtugal and accunt fr 55% f the annual sales f passenger vehicles (Cpenhagen Ecnmics, 2010:24). Since 2001 a scheme has been in place t ensure that benefits assciated with their private use are subject t taxatin. Prtugal applies a tax declaratin mdel based n acquisitin csts. Enfrcement is reprted t have cnsiderable ptential fr imprvement. Furthermre, the annual incme tax declaratin n acquisitin csts (9%) is rather lw, nly abut half the tax declaratin value in ther Member States (Cpenhagen Ecnmics, 2010:26). Reducing tax expenditures n cmpany cars has been included in Prtugal s MU with the Trika. Rad user charges are gradually being extended t the greater part (2/3) f the natinal netwrk f highways and are reprted t have caused a substantial diversin t ther rads, in sme rad sectins mre than 30%. Specific charging fr nise and air pllutin frm lrries (cf. Eurvignette directive) is yet t be cnsidered. Taxes n mtr fuels make up fr mst f the energy taxes. Since 1995 taxatin f petrl and diesel has decreased in real terms by 10 eurcents per liter. Diesel taxatin is with 367 per 1000l smewhat higher than the EU minimum rate f 330 per 1000l, and aligned fully t the tax rate in Spain, while petrl with 585 per 1000l is taxed cnsiderably higher than as well the EU minimum ( 359) as the Spanish rate ( 463). Mtr fuel taxes declined in real effective terms with 1 1½ eurcents per liter fr petrl and diesel respectively even between 2010 and 2012(Q4). A tax n electricity respecting the EU minimum rate has recently been intrduced and with the same tax rate fr business and husehld use. End user taxes f electricity are presently smewhat higher in Spain, Greece and Italy than the rate in Prtugal. On the ther hand pre tax electricity tariffs t husehld cnsumers in Prtugal are generally in the tp cmpared t ther Eurpean cuntries (IEA, 2009:126). T the extent that inefficiencies gradually can be eliminated with liberalizatin f the electricity market, it allws fr 7

8 the public budget t reap part f the dividend. In the shrt term, the drp in CO2 allwance csts als prvides sme leeway. Reduced VAT rates traditinally have been applied fr several envirnmentally related tax bases. A reduced VAT rate fr husehld cnsumptin f electricity and natural gas was ablished in An intermediate rate f 13% remains in place fr diesel fuel fr heating, clured diesel and lw sulphur fuel il (IEA, 2009:23; TAXUD, 2013), while the general VAT rate has been increased t 23%. Tax rates are als levied at reduced rates fr specific purpses and sectrs f the ecnmy, such as railways, inland navigatin and agriculture (OECD, 2013). Prtugal is part f the emissin trading system (ETS) fr CO2 allwances in the Eurpean Unin. Under this system allwances are required fr large emitters in rder t increase emissins beynd the histrical level. There is n carbn tax in place fr nn ETS emitters. Ireland is ne f several EU member states t recently have intrduced a carbn tax and OECD (2011a:142) has recmmended that Prtugal shuld als cnsider ne. Emissins f cnventinal air pllutants have decreased ver the last decade, and Prtugal cmplies with the ceilings fr emissins agreed under the s called NEC Directive. Health csts f air pllutin are well dcumented and suggest the need fr further emissin reductins in the years t cme. Unlike many ther EU Member States n air pllutin taxes exist in Prtugal, althugh legislatin t this purpse was passed in 1990 (Sants et. al., 1999). Such taxes culd supprt further emissin reductins in a cst effective way. Accrding t the mst recent FAO data Prtugal suffers frm water scarcity t an extent that wuld place the cuntry n the glbal tp 10 list f OECD cuntries with water scarcity (OECD, 2011b; FAO, 2013). Water withdrawal per capita is the secnd highest in OECD, exceeded nly by Spain and abut three times the level in Israel. Mre than 20% f the theretically available water resurce is utilised. Full cst water pricing has been intrduced, yet actual water tariffs d ften nt reflect cntributins frm EU structural funds t water supply. High lsses in retail water supply are reprted, estimated at an average f 36% f water withdrawn, but in sme areas as high as 60 70% (OECD, 2011b:79). The recently intrduced water abstractin tax apprximates 2 eurcent/m3 fr urban water supply and 0.3 cents/m3 fr industry. Irrigatin water use pays 0.02 cents/m3 while accunting fr 70% f withdrawals. There are user charges fr sewerage and waste water treatment in place, but althugh they are mstly vlumetric accrding t cnsumptin, sme maintain fixed charges and 20% f municipalities remain withut user charging (OECD, 2011a:80). With regard t final end f pipe waste water discharges t aquatic bdies, there are nvel ecnmic instruments in place targeting emissins. Agriculture is freed f any taxes regarding pesticides and mineral fertilisers. Experiences in EU member states illustrates that the use f taxes, pssibly with full revenue recycling, can help imprve the management f bth water quantity and quality. Prtugal has intrduced a tax n landfilling and incineratin f waste. The tax rates have been gradually increased t a level f 4 6 eur per tnne f waste in 2011, while the revenues are ring fenced fr envirnmental purpses (Fischer et. al. 2012:72). 8

9 Packaging fr beverages is nt subject t taxatin in Prtugal. Prtugal has an fficial aim t reduce the number f plastic bags used by cnsumers by 90%, yet shpping bags are nt subject t taxatin. Mayrs arund Prtugal have recently tabled specific prpsals fr a lcal turist tax. Prpsed rates f 1 3 eur per night wuld have t be cnsidered in view f the actual burdens n public infra structure (peak lad demand fr instance n water supply, waste dispsal and rad infrastructure) as well as aspects f land use and land use impacts (urbanisatin f castal areas, lss f landscape values and bidiversity) which we d nt explre here. Hwever, 40 millin turists visit Prtugal every year and the majrity f them arrive by plane. Departures are liable t VAT, yielding 15 millin annually, but n specific air travel tax is in place. What rle fr envirnmental fiscal refrm in Prtugal? Under the current circumstances f fiscal cnslidatin, a dynamic apprach t revenue neutrality fcuses n the pprtunities fr bradening the tax base, whereby planned increases in labur taxatin can be avided and a stimulus fr the ecnmy be achieved (Pereira and Pereira, 2011). The sixth update f Prtugal s MU with the Trika utlines the fllwing specific pprtunities fr increasing taxes in 2013; amending the persnal incme tax t yield an additinal EUR 3 billin increase crprate tax revenues with EUR 200 millin increase indirect taxes with EUR 685 millin increase scial cntributins with EUR 270 millin Hwever, the revenues that culd be generated as a result f envirnmental fiscal refrm in Prtugal might be used t substitute fr sme r all f these tax increases. In fact, withut ging beynd practices elsewhere in Eurpe there seems t be sufficient ptential t allw Prtugal t reinstate the rle f envirnment related taxes at the 1995 level. In additin, there are als envirnmentally related tax expenditures althugh mitting these tax expenditures wuld nt as such add t envirnmentally related taxatin as defined by Eurstat, nevertheless they culd prvide additinal relief t the budget. Using this ptential fr envirnmentally related taxatin wuld nt nly prvide fiscal relief, it wuld als help prtect the envirnment and sustain the use f natural resurces, while making Prtugal s ecnmy mre cmpetitive. In the fllwing the ptential fr envirnmental tax refrm in Prtugal is presented. Our apprach is t cnsider the revenue ptential frm a perspective f realism, which implies that prpsals d nt g beynd what is already in place in ther EU Member States. 9

10 The base year f this analysis is 2010 when envirnmentally related tax revenue was 4.3 billin and ttal tax revenue (including scial security cntributins) was 54 billin (Eurstat and Eurpean Cmmissin, 2012). Plicies in place but nt included in the 2010 figures include minr adjustments f petrl and diesel taxes as well as an increase f vehicle taxatin included in the 2012 budget. The revenues f these plicies amunt t an estimated 114 millin and wuld increase the envirnmental tax rati t apprximately 2.7% f GDP frm 2.6% in The ptential t increase envirnmentally related taxes sums t 2.2 billin. These revenues as a spin ff wuld generate an estimated additinal 0.2 billin in VAT. There are als envirnmentallyrelated tax expenditures amunting t 0.7 billin which culd be cnsidered. Additinal revenues frm envirnmentally related taxes culd be btained by measures intrduced gradually ver a fur year perid: Taxes n petrl and diesel have declined in real terms ver many years in Prtugal, but the challenge is that neighburing Spain maintains its diesel tax rate clse t the EU minimum, prviding limited leeway fr Prtugal. In particular the internatinal lrry traffic takes advantage f the Spanish situatin, but there are als many passenger vehicles that wuld d s if diesel was taxed mre heavily in Prtugal. The advantage cnveyed alne t diesel drivers in passenger vehicles is wrth ver 500 millin annually when cnsidering the discrepancy t the petrl tax in Prtugal. Hwever, by adjusting the annual circulatin tax fr passenger diesel vehicles with an ffset tax, the verall taxatin f diesel and petrl cars culd be balanced. Denmark has fr many years practised such a scheme, differentiated accrding t vehicle classes. HGV Eurvignette: The s called Eurvignette directive has been amended t allw the scial csts f air pllutin and nise t be reflected in the charging structure fr infrastructure use by heavy gds vehicles (HGV). This can be dne by intrducing a separate external cst charge n tp f the infrastructure tlls currently due. It will supprt HGV fleet renewal and apply t bth freign and dmestic vehicles. HGV s accunt fr half f the rad transprt sectr s emissins f air pllutants that are knwn t be damaging t health. Charging fr air pllutin and nise in this way wuld make up fr the lw diesel tax fr HGV s (EEA, 2013). A tax n electricity has been intrduced in 2012 accrding t the EU minimum rate f the Energy Taxatin Directive. If the electricity tax fr husehlds and businesses is gradually aligned t levels that have been intrduced in Spain and Greece, there wuld be ptential fr a mre significant revenue stream, even if sme f the revenues are used t cmpensate deprived husehlds with a green check There has been ver the past decade in Prtugal a switch frm mineral ils t gas, with the latter becming an energy carrier f majr significance. While mineral ils traditinally have been subject t taxatin, gas n the ther hand has been very mildly treated, and the dash frm il t gas may als have cntributed t the ersin in envirnmentally related taxes ver the past decade. Restring energy taxatin by increasing the taxes n gas, fr instance t the level in Spain, ffers a significant revenue ptential. The intrductin f a carbn taxatin scheme has been recmmended in the recent OECD Envirnmental Perfrmance Review f Prtugal (2011a:142). While emitters 10

11 under the Eurpean emissins trading scheme (ETS) are subject t a carbn price, a range f industries and emitters are falling utside the scpe f the ETS. Intrducing a carbn tax fr nn ETS emitters wuld ensure a mre balanced apprach t mitigatin and mre fair terms f cmpetitin. Such a tax is included in the Eurpean Cmmissin s prpsal fr a revisin f the Energy Taxatin Directive. Carbn taxes are in place in several Eurpean cuntries; mst recently Ireland intrduced a 15 carbn tax fr nn ETS emissins. Studies indicate that a carbn tax f abut 15 wuld suffice fr Prtugal t meet its climate cmmitments (Pereira and Pereira, 2011). A carbn tax culd be phased in gradually, while taxing gas at the Spanish level wuld already pre empt sme f the carbn tax revenues. Hydrpwer ryalty: Prtugal is within the OECD area a leading cuntry in the develpment f hydrpwer. Accrding t the mst recent data 35% f Prtugal s electricity prductin is based n hydrpwer. Hydrpwer requires utilisatin f water resurces frm surface water and grund water. The further expansin f hydrpwer is based n cntractual bligatins between the gvernment and peratrs. Hwever, ld hydrpwer statins where investments have been returned prduce at lw csts, while earning windfall prfits frm the Eurpean ETS. Spain is ne cuntry that has recently intrduced a ryalty payment fr ld hydrpwer t reflect the value derived frm the natural resurces invlved. This ryalty payment is up t 22% f the electricity price (Ernst and Yung, 2013). Water abstractin tax: there wuld be significant revenue ptential frm increasing the existing water abstractin levy t a mre substantial tax fr all utilities and industries abstracting water. If the tax applies t 90% f abstracted vlumes, rather than the custmer metered vlumes, then there will be a strng incentive fr utilities t reinfrce their capacity t react quickly against spills, which may bring leakage rates dwn frm rates f per cent prevalent in many areas. This wuld in turn be helpful fr lcal landscapes and fr bidiversity, in particular in areas affected by drughts and water scarcity. Applying a rate system mre in line with Israel wuld cntribute twards achieving a higher level f water resurce efficiency. This wuld invlve a levy f 7 cents/m3 fr residential cnsumers. Industry wuld be liable t 2 cents and irrigatin t 1 cents per m3. The increase frm present rates might nt apply in winter time. Increasing the tax rates n waste, withut ging as far as fr instance in Ireland (50 per tnne), wuld further supprt at the same time waste recycling and waste minimisatin, as well as fiscal cnslidatin. Packaging taxatin: under the EU s Packaging and packaging waste directive there is a take back bligatin fr 55% f the packaging marketed and a system f fees t finance the peratinal schemes required. Such schemes d nt prvide strng incentives t minimise n packaging and shift t less burdensme materials (paper and glass is less burdensme than plastics and metals fr instance). A cmplementary tax n beverage packaging can prvide such incentives, in particular if the tax rates are differentiated accrding t envirnmental burdens f different materials. Shpping bags f plastic and paper culd be subject t a 15 eurcents tax, similar t the ne in place in Ireland, which greatly reduced littering with shpping bags. Air pllutin taxes n SO2 and NOx culd cmplement taxatin f emissins frm HGV s and bring a substantial revenue cntributin, even if intrduced at a mdest level. Taxes n air pllutin frm fssil fuels furthermre imprve n the relative price advantages f renewables in the electricity market, and can prvide a needed 11

12 relief t the demand fr subsidies and feed in tariffs. This is because they imprve the cmpetitive psitin f renewables. Pesticide taxatin: current apprval systems reflect human health cncerns, whereas impacts n bidiversity can nt always be ruled ut, hence it is desirable t be efficient in the use f pesticides. Several cuntries apply taxes t curb vertly generus use f pesticides and reinvest sme f the prceeds in research and develpment related t pesticide use, while there are als examples that revenues can be generated that cntribute t the general budget t. (Branth Pedersen et. al., 2012). Resurce taxes: Prtugal is ften said t pssess few natural resurces, but figures frm 2010 indicate the extractin f 4½ millin tnnes f natural resurces frm 56 mines, invlving an exprt value f 735 millin 2. Furthermre, mining and extractin activities have a ptential t increase in view f the glbal resurce scarcities and the pursuit fr rare earth metals, as underlined by Prtugal s new strategy t bst mining cncessins (PLMJ, 2013). Currently mining ryalties are applied n an ad hc basis fr each cncessin and there appears t be n systematic apprach. Adpting an explicit natural resurce taxatin scheme t capture the ecnmic rent frm natural resurces wuld be mre in line with principles f envirnmental and ecnmic sustainability. Amng EU Member States Estnia has successfully established such a taxatin scheme with a set f mineral resurces extractin charge rates fr minerals belnging t the state (cf. Annex 5, table 1 in Statistics Estnia, 2009). Tax rates are differentiated accrding t the specific resurces ranging up t 4 per m3. Additinal revenues frm envirnmentally related tax expenditures and subsidies culd be btained by phasing them ut gradually: Cmpany cars prvide a significant revenue ptential: By increasing the annual tax declaratin f the acquisitin csts t the level f 18% fr newly purchased cmpany cars, which is in line with declaratin rates used in ther Member States, there wuld be a majr revenue ptential. Changing the tax base frm acquisitin csts t the list price f vehicles culd be expected t add a further 15% t the revenues. Ablishing special VAT rates and reduced tax rates fr specific sectrs prvides a further revenue ptential f sme significance (OECD, 2013). Table 1 prvides a cncise verview f the ptentials fr envirnmentally related taxes and/r envirnmentally harmful subsidies as mentined abve. Estimates are prvided fr ptential revenues. Behaviural respnses are taken int accunt t a certain extent. Revenues are indicative and will require mre careful calculatins n basis f energy and transprt sectr mdelling in particular. Nevertheless they serve t illustrate the relative significance f the different ptins available. Taxes that are already in place can be raised sn, whereas new tax instruments will require a phase f legislative and technical preparatin. Due cnsideratin has been given t this aspect with the phased implementatin illustrated. The line with the grand ttal indicates the sum f all measures if tapping all ptentials simultaneusly. 2 Mineral explitatin features wrld class depsits as Neves Crv (Cu, Sn) and Panasqueira (W), as well as depsits prducing salt, feldspar, kalin, ball clay and fire clay, rnamental stnes and sme ther mineral substances. Prtugal is presently ne f the main EU prducers f cpper, tin and tungsten cncentrates and an imprtant wrld prducer f rnamental stnes (eurmines.rg) 12

13 Table 1. Illustrative Ptential fr Envirnmentally related Taxes and Remval f Envirnmentallyrelated Tax Expenditures in Prtugal, , Millin 3 Envirnmentally related taxes Transprt taxes Cmment Air travel tax HGV vignette scheme Annual ffset tax diesel vehicles Sum Energy taxes Cmment Differentiated rates, lnger flights 14 ; shrt flights 3 per passenger (UK apprach and tax rates) Harmnised apprach f EU Directive 2011/76 based n csts f air pllutin and nise fr Heavy Gds Vehicles. Balanced taxatin f passenger vehicles mtr fuels. Offsetting tax per passenger diesel vehicle, in average 200. Mtr fuel excises Adjust tax rates with inflatin t 2010 effective level in Prtugal Electricity Align t level in Spain and Greece Gas; industry and heating Align t tax rate in Spain f 1.15 /GJ Carbn tax CO2/Carbn tax fr nn ETS emissins, rising gradually t 15 /tn (Ireland s apprach) Further increase by 2016 t rate f ETD prpsal: 20 /tn Hydrpwer Ryalty f 10 20% fr large hydrpwer, similar as Spain Sum Pllutin and resurce taxes Cmment Water Increase rates utside winter time. Tax abstracted water s abstractin levy water pipe leakage culd be reduced frm 30 40% t 10%. Waste and Apply rate f 35 /tn supprting reuse and recycling incineratin tax industry Beverage packaging Apply rates accrding t envirnmental burdens Shpping bags Same rate as Ireland (15 cents/pc). Resurce taxes >35 Ryalty n resurce rents as in Estnia. SO 2 a and NOx Same rates as fr HGVs t reduce health csts Pesticide tax Supprting bidiversity and human health Sum Sum f all envirnmentallyrelated taxes 287 1,639 2,092 2,200 VAT (23 %) fr cnsumptin related taxes Ttal incl. VAT 334 1,785 2,275 2,396 Remval f envirnmentally harmful subsidies Charge Categry Cmment Railways and inland navigatin Fuel tax exemptin Agriculture Fuel tax reductin Certain industries Fuel tax reductin and fixed engines Heavy fuel il, gas il and kersene align reduced VAT rates t standard (nn mtr fuels) Agriculture Align reduced VAT rates n fuels t standard % f acquisitin cst in annual tax declaratin (up 9%) Cmpany cars Change frm acquisitin csts t list price Ttal Grand ttal Cmment All surces 610 2,199 2,827 3,086 3 Based n experiences gained in ther Eurpean cuntries with a gradual implementatin ver a perid f fur years. ETD is the EU s Energy Taxatin Directive 2003/96/EC. 13

14 References: Andersen, M.S. and Ekins, P. (eds.), 2009, Carbn Energy Taxatin: Lessns frm Eurpe, Oxfrd University Press. Barker, T., Dagumas, A. and Rubin, J., 2009, The macrecnmic rebund effect and the wrld ecnmy, Energy Efficiency, (2) Branth Pedersen, A, et. al., 2012, The Danish pesticide tax, FP7 EPIWATER paper. prject.net/epiwater/ Cpenhagen Ecnmics, 2010, Cmpany car taxatin, Taxatin papers 22/2010, Cmmissin DG TAXUD, Bruxelles. taxatin_paper_22_en.pdf Ekins, P. and Speck, S. (eds.), 2011, Envirnmental Tax Refrm: A Plicy fr Green Grwth, Oxfrd University Press. Ernst and Yung, 2013, Spain: law n tax measures fr energy sustainability apprved, T Magazine law tax measures energy sustainability apprved/ Eurpean Cmmissin, 2010, EU energy trends t 2030 Update 2009, DG Energy Eurpean Cmmissin, 2010, Mnitring tax revenues and tax refrms in EU Member States 2010, Eurpean Ecnmy 6/2010, DG fr Ecnmic and Financial Affairs and DG fr Taxatin and Custms Unin, Brussels. Eurpean Cuncil f Ministers, 2012, Implementatin f the Eurpean Semester, Presidency Synthesis Reprt, 6662/12, Brussels: 22. Febr Eurpean Envirnment Agency (EEA), 1996, Envirnmental taxes Implementatin and envirnmental effectiveness, Cpenhagen Eurpean Envirnment Agency (EEA), 2000, Envirnmental taxes: Recent develpments in tls fr integratin, Cpenhagen. Eurpean Envirnment Agency (EEA), 2005, Market based instruments fr envirnmental plicy in Eurpe, EEA Technical reprt N. 8/2005, Cpenhagen. Eurpean Envirnment Agency (EEA), 2006, Using the market fr cst effective envirnmental plicy Market based Instruments in Eurpe, EEA Reprt N 1/2006, Cpenhagen. Eurpean Envirnment Agency (EEA), 2010, The Eurpean Envirnment: State and Outlk 2010 A Synthesis, Cpenhagen. Eurpean Envirnment Agency (EEA), 2011, Envirnmental tax refrm in Eurpe: implicatins fr incme distributin, EEA Technical reprt N. 16/2011, Cpenhagen. Eurpean Envirnment Agency (EEA), 2011, Envirnmental tax refrm in Eurpe: pprtunities fr ec innvatin, EEA Technical reprt N. 17/2011, Cpenhagen. Eurpean Envirnment Agency (EEA), 2013, Rad user charges fr heavy gds vehicles (HGV): Tables with external csts f air pllutin, EEA Technical reprt N. 1/2013, Cpenhagen. Eurpean Unin Rad Federatin (ERF), 2011, Eurpean rad statistics 2011, Bruxelles. Eurstat and Eurpean Cmmissin, Taxatin and custms unin, 2012, Taxatin trends in the Eurpean Unin Data fr the EU Member States, Iceland and Nrway, 2011 editin, Luxemburg, Publicatin Office f the Eurpean Unin. Fd and Agriculture Organizatin (FAO), 2013, Aquastat factsheet n Prtugal, Rme. Fischer, C, Lehner, M, and McKinnn, DL, 2012, Overview f the use f landfill taxes in Eurpe, ETC/SCP Wrking paper 1/2012, Cpenhagen: Cpenhagen Resurce Institute. Gag, A and Labandeira, X, 2000, Twards a green tax refrm mdel, Jurnal f Envirnmental Plicy and Planning, 2:1, Green Fiscal Cmmissin, 2009, The Case fr Green Fiscal Refrm Final Reprt f the UK Green Fiscal Cmmissin Internatinal Mnetary Fund (IMF), 2012, Fiscal plicy t mitigate climate change: A guide fr plicymakers, New Yrk (available als in prtuguese). Internatinal Energy Agency (IEA), 2009, Energy plicies f IEA cuntries: Prtugal 2009 review, Paris: OECD/IEA. Internatinal Energy Agency (2012), Energy prices and taxes Quarterly statistics, furth quarter 2012, Paris. Organisatin fr Ecnmic C peratin and Develpment (OECD), 2001, Envirnmentally related taxes in OECD cuntries: Issues and strategies, Paris. Organisatin fr Ecnmic C peratin and Develpment (OECD), 2006, The Plitical Ecnmy f Envirnmentally Related Taxes, Paris. Organisatin fr Ecnmic C peratin and Develpment (OECD), 2010, Taxatin, Innvatin and the Envirnment, Paris. Organisatin fr Ecnmic C peratin and Develpment (OECD), 2011a, OECD Envirnmental Perfrmance Reviews: Prtugal 2011, Paris. Organisatin fr Ecnmic C peratin and Develpment (OECD), 2011b, Ecnmic instruments fr water management, ENV/EPOC/WPBWE(2001)13, Paris. Organisatin fr Ecnmic C peratin and Develpment (OECD), 2013, Inventry f estimated budgetary supprt and tax expenditures fr fssil fuels, Paris. Pereira, AM and RM Pereira, 2011, Envirnmental fiscal refrm and fiscal cnslidatin: The quest fr the third dividend in Prtugal, Dept. f Ecnmics Wrking Paper 114, Cllege f William and Mary, Williamsburg VA. 14

15 PLMJ Sciedade de Advgads, 2012, Energy and natural resurces: The Prtuguese mining regime, Sept Plimeni J.M., Mayumi K, Giampietr M, Alctt B, 2008, The Myth f Resurce Efficiency: the Jevns paradx, Earthscan, Lndn. Sants, R, Antunes, P and S Martinh, 1999, Envirnmental and ecnmic implicatins f market based instruments in Prtugal discussin and examples, , in Thmas Sterner (ed), The Market and the Envirnment: The effectiveness f market based instruments, Cheltenham: Edward Elgar. Sares, C, 2003, The use f tax instruments t deal with air pllutin in Prtugal, RevCEDOUA. Vl. II, Srrell, S., 2007, The rebund effect: an assessment f the evidence fr ecnmy wide energy savings frm imprved energy efficiency, Lndn: UK Energy Research Centre. Statistics Estnia, 2009, Envirnmental taxes, final reprt t Eurstat, Tallinn. https://circabc.eurpa.eu/sd/d/739b8106 bf20 4de7 b470 ac6b8b7ede66/ee%20486%20env%20taxes.pdf 15

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